What causes a recession? Maybe it’s you and how grumpy you are about the economy – By Will Daniel (Fortune) / June 4, 2022
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There’s been no shortage of doom and gloom predictions from Wall Street since the start of the year. From billionaire investors to former Federal Reserve officials, the list of experts predicting an impending recession seems to grow day by day.
Despite bright spots like another strong jobs report in May and an unemployment rate of just 3.6%, a “cost of living crisis,” stock market woes, and persistent recession predictions are wreaking havoc on Americans’ confidence in the economy.
More than 80% of Americans now believe the U.S. will fall into a recession in 2022, an April CNBC survey found. And consumer sentiment, as measured by the University of Michigan’s Consumer Sentiment Index, sank roughly 30% year over year last month, closing in on levels not seen since the Great Recession.
CONTINUE > https://fortune.com/2022/06/04/what-causes-a-recession-consumer-confidence-sentiment-inflation/
